Budgeting can be a challenge. Here are 5 tips to get started
By ADRIANA MORGA
Associated Press
NEW YORK (AP) — Whether you want to pay off debt, start a rainy day fund or save for a family trip, budgeting is the first step toward reaching your financial goals. Colleen McCreary of Credit Karma says creating a budget is a lot like trying to eat better or exercise more. Everyone tells you it’s good for you, but it’s hard to get into the habit. You can start by writing down all of your expenses and thinking about how to allocate funds. One common strategy is spending 50 percent on needs, 30 percent on wants and 20 percent on saving or paying down debt.